Baytex Energy Corp T.BTE

Here’s the thing

[Unlucky13]

Before one OPEC meeting I sold all my shares and tried time it and lost $25000 and was forced to buy back at a higher price.  In hindsight I could have sold this at $9  after a dead cat bounce and had a $60000 profit.  This was at $50 oil!  

In 2014 I bought at the peak and BTE was paying an 11 percent dividend!  This was like a Suncor and was a staple of one's investment portfolio.  It was considered a stable play in the oil patch and they bought Aurora and it was considered a long term play with some exciting assets.  The heavy oil price was over $90 and wti was well over $100!

No one anticipated the oil collapse and shale boom and now that electric is here I think oil is dead.

I also made the mistake of buying on margin and not using my own money and went from an investor to a risk taker.  I was chasing losses.  At one point RBC said the worst case for the energy patch meant $10 a share!

I trusted the experts and they were wrong as BTE went to 28 cents.  Being down thousands of percent I would rather lose what I have left in the hopes of recouping my losses than to switch it over to something else.  I am down $300000 and couldn't buy enough to recoup losses from 28 cents to $1.25.

Switching to Marijuana or something else that already has had it's run seems perplexing as I have spent the last 7 years in this oil odyssey.

Percentage wise and at the current price I feel BTE is positioned the best to allow me to make my money back but I also am fully aware it could go to zero or languish here at a buck forever.  It certainly seems that way.  I wish it was a slam dunk but it's not and I am resigned to the fact that two years from now if it's still a buck I will probably sell and pay off what debt I can and move on.  I have waited this long, I can wait longer.

It's still a duck and a lame one at that.  It has done nothing but disappoint and even if earnings are exciting there's always a catch and that would be the terrible hedges.  A $1.30 after earnings if they are spectacular and than the usual two cent drift the following day, $1.27 by next Monday.  Does that get you excited?

At $60 oil it's going to take years to appreciate.  I really don't want to wait five years to get my money back, I have already waited 7 years.

The fear being if I sell now at a $1.25 it could be back to $1.40 and I would lose.  But it's definitely a real possibility this keeps sliding as the stock has done nothing but slide for 7 years with a few dead cat bounces.

I am not sure why everyone became so excited about this stock, year or year it's down.  It had one dead cat bounce from 30 cents but you have to remember many of us bought at much higher levels.

[Antonyius]

noted, so you're saying nobody can really predict where shares are going because it could go up, that's why you didn't sell, and it could go down because it's happened to you multiple times. All of that makes sense until you start calling for under a $1 when you admitted to saying nobody knows where prices are going. Maybe hold off on the crystal ball calls because clearly you'

[Maxmoe]

He will never go away but if we ALL either put him on ignore or at least ignore and don't engage, it will be just as good.  It's all a pathetic, pathological, pile of poop. NONE of his story is real, or ever was.

[Unlucky13]

Do you have anything to contribute about the stock at all?   Tell me why it's not a lame dog?